Electronic Cash

Electronic money (also known as electronic cash, electronic currency, digital money, digital cash or digital currency) refers to money or scrip which is exchanged only electronically. Typically, this involves use of computer networks, the internet and digital stored value systems. Electronic Funds Transfer (EFT) and direct deposit are examples of electronic money. Also, it is a collective term for financial cryptography and technologies enabling it.
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any of several systems that enable a person to pay for goods and services over the internet. The major difference between electronic cash and online credit card transactions is that electronic cash is anonymous and reusable, just like real cash; also called e-cash.